Chapter XII
FINANCIAL PROCEDURES

12.01 Independent Audit.

The Council shall provide for an independent annual audit of all City accounts and may provide for more frequent audits as it deems necessary.

Such audits shall be made by a certified public accountant or a firm of such accountants and shall comply with all applicable state regulations. The Council may, without requiring competitive bids, designate such accountant or a firm annually or for a period not exceeding three years. If the state makes such an audit, the Council may accept it as satisfying the requirements of this section.